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Optimum weight loss co. offers personal reduction consulting services to individuals. after all the accounts have been closed on November 30, 2016 the end of the fiscal year, the balance of selected accounts from the ledger of optimum weight loss co. are as following:
account payable 37,000
account receivable 116,750
accumulated depreciation equipment 186,400
cash ?
common stock 75,000
equipment 474,500
land 300,000
prepaid insurance 7,200
prepaid rent 21,000
retained earning 635,300
salaries payable 9,000
supplies 4,8000
unearned fees 18,000
Extraordinary gain, net of tax of 30%, is $21,000. Prepare an income statement, including earnings-per-share data, giving supporting computations. Caribou Inc. has 130,000 shares of common stock outstanding.
clyde and bonnie are the only two shareholders in getaway corporation. bonnie owns 60 shares with a basis of 6600 and
Prepare a paper on International Financial Reporting Standard.
What casualty loss deduction from this accident can Jim combine with his other casualty losses in computing his itemized deductions?
Prepare any adjusting and closing entries you think are needed at year end.4. What would the normal balance be of a liability account a post closing trial balance? A revenue account? Drawing?
Angel Corporation has pre-tax book income of $750,000 in 2013. Angel's book depreciation exceeds tax depreciation by $100,000 and Angel has municipal bond interest of $50,000. Angel has no other permanent or temporary tax differences.
Compute these: 1. The actual cost of material used per unit of product produced this year. 2. The standard materials cost per machine hour. 3. The budgeted direct labor cost for each unit produced.
Determine the following amount of materials price variance to be prorated to complete goods inventory at Dec. 31
Compute the current and quick ratios for each of the three companies. (Round calculations to two decimal places.) Which firm is the most liquid? Why?
Intra-entity sales had the same markup as sales to outsiders. Skillet still had 40% of the intra-entity sales as inventory at the end of 2011. What are consolidated sales and cost of goods sold for 2011?
1.Gomez Co. had the following transactions in the last two months of its year ended December 31.Nov. 1 Paid $1,800 cash for future newspaper advertising.
Calgary Lumber has a raw lumber division and a finished lumber. Should Calgary Lumber process raw lumber into it's finished form? Show your calculations
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